IRS payment plans

Q.Can anyone explain to me how the IRS sets up payment plans for people who have a tax liability that can not be met in full at present? (ie: how much time does the IRS give to pay out what is owed, etc..)

A.If it's 1040 tax and you owe less than $10,000 make a suggestion THAT YOU CAN KEEP to IRS. You can do this when you file the return or when you get a bill. Approval is automatic as long as you meet IRS's time guideline. (This time limit was "For Official Use Only" when I worked there, so I won't say what it is. But there's probably someone on the list who knows and can tell you.) If you don't meet the requirements for an "automatic" agreement, they'll want financial information. Payments will be based on the difference between your cash in and your necessary expenses. If it's 1040 tax and you owe less than $10,000 make a suggestion THAT YOU CAN KEEP to IRS. You can do this when you file the return or when you get a bill. Approval is automatic as long as you meet IRS's time guideline. (This time limit was "For Official Use Only" when I worked there, so I won't say what it is. But there's probably someone on the list who knows and can tell you.) End Quote >>> The time period is three years and i don't think the IRS is exactly wrapping that in secrecy

Other Questions :

Need exact copies free Irs form for Tax Return

I'm preparing the three years of tax returns and other free IRS forms that will be needed for the interview once our petition is approved and sent over to the embassy. I have last years tax return, and I'll have this years when I file next mo...

IRS problem? Sometimes TAS can help

I don't know to do when I have an IRS problem? Does anyone give me some advices ? thank for your timeMy answer :Sometimes TAS can help. The Taxpayer Advocate Service (TAS), a quasi-independent organization within IRS, can sometimes help individu...

How Far Back Can The Irs Audit

By law, can the IRS audit prior tax years? If yes, how far back can they go? What would trigger them to go back and look on prior year? If I just realized that I made a mistake on a prior year tax return, am I supposed to call them and fess up?...

CPA detaining tax records during IRS audit. Please help!

My ex-CPA is detaining my tax/accounting records/books/receipts half-way through an IRS audit because of a billing dispuit. Is this legal? Ethical? I can't finish my audit (an entire other issue all together, i.e. IRSholes) without my recor...

Does anybody know if I can send my tax return to IRS with using mailing address or another service requiring signature?

Does anybody know if I can send my tax return to IRS with using mailing address or another service requiring signature?Simple answer,yes, slightly more complex answer Watch the date of sending. With US Mail, the post mark on Cert mail is the ...